President Donald Trump said Friday he plans to impose “reciprocal taxes” on imports from all trading partners to reduce the US trade deficit.

President Donald Trump said Friday he plans to impose “reciprocal taxes” on imports from all trading partners to reduce the US trade deficit.

“When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart,” Trump said, a day after announcing steep tariffs on steel and aluminum that has prompted threats of retaliation.

“We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice!”